Taitron Components Incorporated (NASDAQ:TAIT) Sees Large Decline in Short Interest

Taitron Components Incorporated (NASDAQ:TAIT) was the recipient of a large drop in short interest in October. As of October 31st, there was short interest totalling 2,800 shares, a drop of 22.2% from the October 15th total of 3,600 shares. Currently, 0.1% of the shares of the stock are short sold. Based on an average trading volume of 7,300 shares, the days-to-cover ratio is presently 0.4 days.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on shares of Taitron Components in a research report on Sunday, November 10th. They set a “hold” rating for the company.

Taitron Components Stock Down 2.3 %

Taitron Components stock traded down $0.07 during midday trading on Friday, hitting $2.79. 4,990 shares of the stock were exchanged, compared to its average volume of 12,538. Taitron Components has a 52 week low of $2.57 and a 52 week high of $3.61. The company has a fifty day simple moving average of $2.86 and a two-hundred day simple moving average of $2.88. The stock has a market capitalization of $16.77 million, a PE ratio of 10.71 and a beta of 0.49.

Taitron Components (NASDAQ:TAIT) last announced its quarterly earnings data on Wednesday, August 14th. The company reported $0.07 EPS for the quarter. The business had revenue of $1.22 million for the quarter. Taitron Components had a net margin of 32.00% and a return on equity of 8.87%.

Taitron Components Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 7.18%. The ex-dividend date of this dividend is Friday, November 15th. Taitron Components’s dividend payout ratio is presently 76.93%.

About Taitron Components

Taitron Components Incorporated engages in the supply of original designed and manufactured (ODM) electronic components, and distribution of brand name electronic components. It distributes discrete semiconductors, commodity integrated circuits, optoelectronic devices, and passive components. The company also offers value-added engineering and turn-key solutions focusing on providing contract electronic manufacturers (CEMs) and original equipment manufacturers (OEMs) with ODM products for their turn-key projects.